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Jakarta Post

Lotte plans to open five department stores

  • The Jakarta Post

Jakarta   /   Wed, July 13 2011   /  07:00 am

South Korea’s leading retailer, Lotte Department Store, will open four new department stores outside Jakarta within the next few years to take advantage of the country’s growing economy, a senior company executive said.

If the plan is realized, the company will have five stores in Indonesia by 2018.

“With a population of more than 200 million and high economic growth, Indonesia is a large retail market,” Lotte Department Store Indonesia president Suh Chang-suk told reporters in Jakarta on Tuesday.

He said that this year alone Indonesian retail sales are expected to grow by about 20 percent due to overall economic momentum.

Chang, however, declined to mention the names of the cities that would host the stores. He added that the company would increase the number if it received a positive response from the Indonesian market.

Lotte Department Stor...